Britain’s seaside hotspots where house prices are growing fastest | Personal Finance | Finance

House prices in some of the UK’s seaside towns are surging despite a slowdown across the wider property market. Seaside towns in Merseyside and Wales have been named as the coastal hotspots where house prices are rising the fastest, outpacing the wider UK market. Brand new research from property website Rightmove found that Bootle in Merseyside has become the UK’s fastest-growing seaside housing market with average asking prices jumping by 11% in the past year.

Prices in the seaside town on the outskirts of Liverpool nonetheless remain well below the national average at £141,680. Crosby, also in Merseyside, ranked second on the list, with average asking prices rising by 9% year-on-year to £330,900. Several Welsh seaside towns also recorded some of the strongest price increases including Llantwit Major in South Glamorgan, up by 9%, and Llanelli, in Carmarthenshire, up by 7%.

Penarth, near Cardiff, saw asking prices climb by 8% to £433,081 – the highest of the top 10 fastest-growing spots and the only one to sit above the national average.

The UK average price of a property coming to the market in May was £378,304, according to Rightmove. Average asking prices are currently 0.3% lower in Britain compared with last year, showing how some seaside locations are defying the dip and outpacing the nationwide market.

Despite rising demand in certain coastal hotspots, Rightmove said seaside living still remains relatively affordable compared with many other parts of the country. Of the roughly 100 seaside areas analysed, where at least 20 new homes were coming to the market, around 80% had an average asking price below the national figure.

Sandbanks in Poole is still Britain’s most expensive seaside spot with an average price of £1.12million for a home. At the other end of the market, Peterlee is Britain’s cheapest seaside town, with average asking prices of £120,657.

Colleen Babcock, Rightmove’s property expert, said: “The fastest-growing seaside markets this year show that demand for coastal homes remains resilient, even as overall price growth across the UK stays more modest.

“While some locations are seeing strong price increases, there are still many areas where living by the sea is more affordable, giving buyers a wider range of options depending on their budget.

“We’re also seeing that homes priced realistically continue to attract interest, particularly in locations where price growth is being supported by buyer demand.”

1. Bootle, Merseyside, up 11% to £141,680
2. Crosby, Merseyside, up 9% to £330,900
3. Penarth, South Glamorgan, Wales, up 8% to £433,081
4. Llantwit Major, South Glamorgan, Wales, up 8% to £340,033
5. Llanelli, Carmarthenshire, Wales, up 7% to £201,570
6. Wallasey, Merseyside, up 7% to £200,753
7. Bangor, Gwynedd, Wales, up 7% to £220,622
8. Porthcawl, South Glamorgan, Wales, up 6% to £359,412
9. Barrow-In-Furness, Cumbria, up 6% to £185,169
10. Helensburgh, Dunbartonshire, Scotland, up 6% to £247,953

1. Sandbanks, Dorset, £1,119,945
2. Canford Cliffs, Dorset, £1,045,533
3. Lymington, Hampshire, £545,926
4. Barton on Sea, Hampshire, £496,143
5. Lyme Regis, Dorset, £474,417
6. St Ives, Cornwall, £461,959
7. Shoreham-By-Sea, West Sussex, £455,939
8. Swanage, Dorset, £455,347
9. Sidmouth, Devon, £450,971
10. Saltdean, East Sussex, £449,007

1. Peterlee, County Durham, £120,657
2. Grimsby, Lincolnshire, £133,706
3. Ashington, Northumberland, £133,775
4. Bootle, Merseyside, £141,680
5. Blackpool, Lancashire, £142,277
6. Fleetwood, Lancashire, £147,910
7. Birkenhead, Merseyside, £148,942
8. Workington, Cumbria, £155,013
9. Ayr, Ayrshire, Scotland, £157,754
10. Seaham, County Durham, £157,994